Financial Update Report – July 2016
Below you will find a snapshot of our July financials – including a brief synopsis of both net worth and cash flow.
If you have any questions on how and/or why I calculate and share our net worth, you can find details here. Please note there are some affiliate links contained below, but please know that I only recommend products or services that I believe would help my readers. Personal Capital is FREE to use and a very powerful tool I use myself to help create these financial reports.
If you’re interested in how you can track your own personal finances as I do and want to download my free budgeting spreadsheet, check out my post – How to Budget Like a Bad Ass.
The past 5 weeks has been a whirlwind of non-stop adventures to the zoo, the county fair, a trip to Mammoth, a trip to L.A., Disneyland, Legoland, the beach, the library, several parties, and a whole week of volunteering. Whew, what a busy summer!
It was fantastic! But, I’m glad to slow things down now. We’re in a school district that goes year-round, so both my wife and daughter are back to their normal school schedules as of last week.
Anyhow, July has been quite eventful in fiscal terms. The biggest news is that we FINALLY received our federal tax refund! WOO HOO. That only took an extra 3 months thanks to my special ID thieves. But, at least it’s here. That’s all that matters. 🙂
Net Worth Summary
We ended the month of July at $1,629,202 vs. $1,603,529 this past June. This is a $25,376 increase in our net worth or +1.6% by percentage.
In addition to our tax refund, the markets also stretched their gains this past month. This allowed us to see an increase in both cash and our portfolio equity.
Cash Flow Summary
This past July saw a cash flow profit of +$6948.43. This was primarily from the IRS refund (~$7k) we finally got back and it was nice to tuck this away.
Income of $18,650 was definitely higher with the IRS tax refund. However, not counting the refund, I would note that the remaining income was a little lower than normal (~$1000) as we have a vacancy in one of our Las Vegas rentals. It’s back on the market, so hopefully it’ll be rented out again soon. The rest of the income came from my wife’s teacher salary, rental income, dividend income, and misc investment income.
Expenses were $11,701. This is up a touch due to our 6-month auto insurance policy premium hitting this month. The good news is that I actually cut our premium from $930 to $772 by switching from Allstate to Geico. Likewise, I’m working on reducing our cable bill by ~35% which I will elaborate on at a later date.
Portfolio Balances (Equities)
Looks like I trailed the S&P 500 a touch this month, but still beating it for the year overall. It didn’t really matter because our portfolio grew almost $15k this past month! I’d be lying if I didn’t say I was surprised we keep going higher and higher. 🙂
So, July ended up being a great month. With the IRS refund finally in, it feels like we can move forward. Personal Capital did point out that we’ve got a chunk of cash that we should put to work, so I’ll be looking for some safe “holding” areas to keep it and at least get some minimal returns (which currently we’re getting none).
I have also been investing some money into a side hustle (FBA business) and testing out new products that I can potentially sell online. I’m about $500 into it currently, but getting closer to making my first bulk purchase for resale. I’ll definitely write about this too as it unfolds further.
Other than that, I just feel super blessed each day and doing my best to balance gratitude and drive.
Readers, how was your July? How has the first half of the year been for you so far? What do you intend on accomplishing before year-end?